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These patterns you can’t miss AUDUSD, AUDJPY, SG30

Based on these patterns, we are in consolidation phase before main trend asserts itself. However I look at these 3 charts of AUDUSD, AUDJPY and SG30, bullish is not the word to describe.

AUDUSD

  1. Big trend is down.
  2. No reversal pattern is visible.
  3. Looking for resistance.
AUDUSD daily chart July 2017 to June 2018

AUDUSD daily chart Jan – June 2018 | Source: Tradingview.com

 

AUDJPY

  1. Big trend is down.
  2. No reversal visible.
  3. Clearly defined resistance.
AUDJPY daily chart July 2017 - June 2018

AUDJPY daily chart July 2017 – June 2018 | Source: Tradingview.com

 

SG30 (SiMSCI)

A potential topping pattern whether you call it a Head and Shoulders or Triple Top that is looking clearer than ever.

Right shoulder was marked with a failed break which was identified on 04 May.

SG30 is the CFD contract for SiMSCI (Singapore Index Futures). It is showing a highly recurring pattern that resembles a triple top with the last peak as a potential failed break. Those interested can look up Wyckoff Analysis. If this is true, then it is possible that SiMSCI has topped 2 days agoon Wednesday 02 May 2018.

If SG30, AUDUSD, AUDJPY goes down at the same time, it would be a totally consistent risk-off signal that has strong precedence.

SiMSCI daily chart from late-2014 to June 2018

SiMSCI daily chart from late-2014 to June 2018 | Source: Tradingview.com

Director, TerraSeeds Market Technician Pte Ltd. Trader, investor. @sohtionghum was picked ‘Top 70 Forex Twitter in 2015’.

“Dear reader, I do not have a financial license to give advice. I do not know you the reader. Your financial objective and risk tolerance may be different from mine. I am not responsible for any consequence of your action.

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